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How do I go about transfering my money from Chase checking to Ally's checking

Filet-O-Fish 1,285 157 February 6, 2011 at 07:40 PM More Chase Deals
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without getting charged for a fee?

I'm not sure if Chase charges a fee but I have a feeling if I do an online wire transfer or whatever it's called, I'll be charged a fee.

Can I simply write a check to myself and mail it to Ally's?

thanks
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11 Comments

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Joined Jul 2009
L8: Grand Teacher
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#2
Avoid wire transfers between your other accounts. Instead, do bank-to-bank transfers, also known as automated clearing house (ACH). Chase does not charge a fee for transferring money to and from other accounts via ACH. Log-in to chase.com, click on the 'payment and transfer' tab, then click on 'sign up for external transfer'. Create a link to Ally Bank by following instructions.

You should also create a link to Chase from Ally's website.
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#3
Quote from oae View Post :
Avoid wire transfers between your other accounts. Instead, do bank-to-bank transfers, also known as automated clearing house (ACH). Chase does not charge a fee for transferring money to and from other accounts via ACH. Log-in to chase.com, click on the 'payment and transfer' tab, then click on 'sign up for external transfer'. Create a link to Ally Bank by following instructions.

You should also create a link to Chase from Ally's website.
Are you sure Chase doesn't charge for outgoing transfers? I was under the impression that if you use your Chase account to pull funds from another account, it's free. But if you use your Chase account to send money to another account, there's a fee (if you use the other account to pull money from the Chase account there's no fee). I believe Bank of America is the same way (pulling money being free, and pushing money incurs a fee).
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Joined Aug 2008
L99: Slicker than Ice
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#4
I can vouch that pushing money from a chase checking account to a BoA checking account is free, so you should be fine - I don't know about the Ally bank, but it shouldn't charge a fee on incoming money (bad business on their part if they do)
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Joined Jul 2009
L8: Grand Teacher
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#5
Chase stopped charging for ach push last year. I am hoping BoA and Wells Fargo will follow their lead soon.
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Joined Feb 2010
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#6
Quote from sd99 View Post :
Are you sure Chase doesn't charge for outgoing transfers? I was under the impression that if you use your Chase account to pull funds from another account, it's free. But if you use your Chase account to send money to another account, there's a fee (if you use the other account to pull money from the Chase account there's no fee). I believe Bank of America is the same way (pulling money being free, and pushing money incurs a fee).

that's exactly what I want to do. I want to use Ally and pull money from Chase!
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#7
Ally has free ACH pushing and pulling. I have pretty much made Ally my main bank.

Free paper checks, free incoming wires (both domestic and international), free transfers both ways, free ATM use nationwide, no minimum balances, cheap overdraft fees, and a very nice web interface. Yep, love em. nod
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#8
I am of the same opinion as genci88, Ally is great. I use it for pushing and pulling between multiple accounts each month with no fees.
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#9
Quote from Filet-O-Fish View Post :
without getting charged for a fee?

I'm not sure if Chase charges a fee but I have a feeling if I do an online wire transfer or whatever it's called, I'll be charged a fee.

Can I simply write a check to myself and mail it to Ally's?

thanks
Howdy Filet - I'm guessing you are tired of Chase's crappy rates Stick Out Tongue
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#10
Does Chase have a branch near you? You could ask for a money order that closes out your account at the branch, and then you could send it to Ally. I've gotten money orders out of my CU for free when moving a decent sum of money.
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Joined Jul 2009
L8: Grand Teacher
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#11
Quote from wes View Post :
Does Chase have a branch near you? You could ask for a money order that closes out your account at the branch, and then you could send it to Ally. I've gotten money orders out of my CU for free when moving a decent sum of money.
Money orders are unnecessary when you can transfer money by ACH. Ally has something like a $100K or higher daily transfer limit.
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